Palmyra, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Palmyra, VA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Palmyra Housing Market Information

With 106 people, 56 houses or apartments, and a median cost of homes of $199,261, Palmyra real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Palmyra, accounting for 100.00% of the town's housing units.

The most prevalent building size and type in Palmyra are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 57.14% owning and 42.86% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Palmyra's housing was primarily built during this period, from the '40s through the '60s. A full 42.86% of the town's housing hails from this era. Other housing ages represented in Palmyra include homes built before 1939 ( 32.14%) and housing constructed between 2000 and later ( 25.00%).

Palmyra Home Appreciation Rates

Palmyra's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Palmyra during the period has been just -1.51%, which is lower than 80% of US communities.

Over the last year, Palmyra appreciation rates have trailed the rest of the nation. In the last twelve months, Palmyra's appreciation rate has been 2.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palmyra were at -0.32%, which equates to an annual appreciation rate of -1.27%.

Relative to Virginia, our data show that Palmyra's latest annual appreciation rate is higher than 50% of the other cities and towns in Virginia.

Average Home Values

 

Median Home Value:
$199,261

Palmyra, VA HOME PRICES

Value Range
> $1,043,000 1.9
$782,001 - $1,043,000 0.0
$521,001 - $782,000 5.5
$417,001 - $521,000 6.1
$313,001 - $417,000 16.6
$209,001 - $313,000 19.1
$104,001 - $209,000 38.7
$52,001 - $104,000 5.8
$0 - $52,000 6.1

Average for VA
High for Nation

Value Relative to Nation Value Relative to State
32.4504863471229 45.1523545706371

Number Of Homes And Apartments:
56

Palmyra Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
61.39% 2.81% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,457 / per month

Homeownership Rate

Homeownership
Owners 57.14
Renters 42.86
Vacant 0.00

Housing Market Details

 

Age of Homes

AGE OF Palmyra HOMES
2000 or Newer 25.0
1970 - 1999 0.0
1940 - 1969 42.9
1939 or Older 32.1

Types of Homes

TYPE OF Palmyra HOMES
Single-Family 100.0
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Palmyra HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 0.00
3 Bedrooms 75.00
4 Bedrooms 25.00
5 or more bedrooms 0.00

Popular Neighborhoods in Palmyra

Zip Codes in Palmyra, VA